Maryland State Retirement & Pension System Sells 20 Shares of AutoZone, Inc. (NYSE:AZO)

Maryland State Retirement & Pension System cut its stake in shares of AutoZone, Inc. (NYSE:AZO) by 1.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,350 shares of the company’s stock after selling 20 shares during the quarter. Maryland State Retirement & Pension System’s holdings in AutoZone were worth $3,965,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Parnassus Investments LLC grew its holdings in AutoZone by 32.0% during the 4th quarter. Parnassus Investments LLC now owns 243,571 shares of the company’s stock worth $629,780,000 after acquiring an additional 58,989 shares during the last quarter. LGT Capital Partners LTD. grew its holdings in AutoZone by 32.2% during the 4th quarter. LGT Capital Partners LTD. now owns 27,250 shares of the company’s stock worth $70,458,000 after acquiring an additional 6,630 shares during the last quarter. Nomura Holdings Inc. bought a new stake in AutoZone during the 4th quarter worth approximately $879,000. SRS Capital Advisors Inc. grew its holdings in AutoZone by 49.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 155 shares of the company’s stock worth $401,000 after acquiring an additional 51 shares during the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of AutoZone in the 4th quarter worth approximately $145,000. 92.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on AZO shares. StockNews.com downgraded shares of AutoZone from a “buy” rating to a “hold” rating in a research report on Friday, April 12th. Truist Financial dropped their target price on shares of AutoZone from $3,523.00 to $3,394.00 and set a “buy” rating on the stock in a research report on Wednesday, May 22nd. Barclays dropped their target price on shares of AutoZone from $3,100.00 to $3,024.00 and set an “overweight” rating on the stock in a research report on Thursday, May 23rd. Wedbush dropped their target price on shares of AutoZone from $3,400.00 to $3,200.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 22nd. Finally, Morgan Stanley dropped their target price on shares of AutoZone from $3,100.00 to $3,038.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 22nd. Three equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $3,112.71.

Insider Activity at AutoZone

In related news, VP Jenna M. Bedsole purchased 36 shares of AutoZone stock in a transaction that occurred on Thursday, May 23rd. The stock was bought at an average price of $2,757.10 per share, for a total transaction of $99,255.60. Following the completion of the transaction, the vice president now owns 36 shares in the company, valued at $99,255.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.50% of the stock is owned by company insiders.

AutoZone Price Performance

Shares of NYSE AZO traded down $26.58 during trading on Friday, hitting $2,818.30. The stock had a trading volume of 9,122 shares, compared to its average volume of 152,253. AutoZone, Inc. has a 12 month low of $2,375.35 and a 12 month high of $3,256.37. The company has a market capitalization of $48.14 billion, a PE ratio of 19.68, a PEG ratio of 1.43 and a beta of 0.71. The firm has a fifty day moving average of $2,884.88 and a two-hundred day moving average of $2,868.29.

AutoZone (NYSE:AZO) last posted its earnings results on Tuesday, May 21st. The company reported $36.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $35.67 by $1.02. AutoZone had a net margin of 14.60% and a negative return on equity of 54.58%. The firm had revenue of $4.24 billion during the quarter, compared to analyst estimates of $4.29 billion. During the same quarter in the prior year, the business posted $34.12 EPS. The business’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts expect that AutoZone, Inc. will post 151.57 earnings per share for the current fiscal year.

AutoZone Profile

AutoZone, Inc retails and distributes automotive replacement parts and accessories in the United States, Mexico, and Brazil. The company provides various products for cars, sport utility vehicles, vans, and light trucks, including new and remanufactured automotive hard parts, maintenance items, accessories, and non-automotive products.